The US labor market and key inflation data have been in a back-and-forth cycle over which will ease up first, leading to cooling inflation. To talk more about key economic data, Mizuho US chief economist Steven Ricchiuto sits down with Market Domination to ask the real question: "Is the cooling really real?"
"If we're in a situation where people just aren't getting hired, according to the household survey, that could simply be because we're not finding it hard to find qualified workers in those areas that are covered. Maybe that's not an indication that there really is slack developing in the labor market, that's an indication of a problem within the labor market," Ricchiuto says, citing recent employment growth and the household employment survey data.
Ricchiuto also discusses what the 2024 election results in November could impact the US economy and monetary policy.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination.
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This post was written by Luke Carberry Mogan.